The WPP CEO was addressing media while unveiling findings of a brand study in Mumbai
Expects elections to boost spending by 2.5 per cent
WPP has reported revenues of £2.078 billion for the first quarter of 2010, down just under 2% from last year. On a like-for-like basis, excluding the impact of acquisitions and currency fluctuations, revenues were flat with last year. The Group states that revenues have stabilised following declines of 5.8% in the same quarter last year and 7.2% in the last quarter of last year and over 8% last year.
In a global study released by ZenithOptimedia recently, India’s advertising industry is expected to grow at a healthy 10.5% in 2010, primarily owning to its GDP growing faster-than-expected and its equity markets getting back on track. “We are optimistic about 2010 and India is sure to be one of the major drivers of global growth in the coming years,” said Satyajit Sen, CEO, ZenithOptimedia. According to the study, India will grow at 11.4% and 11.8% in 2011 and 2012 respectively.
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